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Conduct, Culture & Accountability
MAS Official Warns of Financial Sector Job Losses in H2
By Editors | 13/08/2020
Supporting the local workforce in the financial sector during the crisis is a priority for MAS, according to deputy managing director Jacqueline Loh.
Capital Adequacy
MAS Calls on Finance Companies to Moderate Dividends
By Editors | 08/08/2020
The dividend restriction is a pre-emptive measure to bolster the finance companies’ ability to continue to support the credit needs of businesses and consumers.
Fraud, Scams & Cybercrime
Singapore Authorities Issue First Charges in Wirecard Probe
By Editors | 08/08/2020
A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.
Cloud & Infrastructure
MAS to Set Up Regional Digital Finance Institute
By Sanday Chongo Kabange | 06/08/2020
The Asia Institute of Digital Finance will be jointly operated by MAS, the National Research Foundation and the National University of Singapore.
Trading & Investment
MAS Announces New Initiatives to Support SORA Adoption
By Editors | 05/08/2020
The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.
Trading & Investment
APAC Firms Lag in IBOR Transition Preparation – Report
By Manesh Samtani | 05/08/2020
Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.
Anti-Money Laundering
MAS Issues Guidance on AML/CTF Enterprise-wide Risk Assessments
By Manesh Samtani | 04/08/2020
Financial institutions are directed to study the guidance to identify and address gaps in their EWRA frameworks and processes.
Structural Regulation
MAS Awards StanChart Special Privileges for ‘Significant Rootedness’
By Manesh Samtani | 04/08/2020
The regulator also has plans to allow certain banks that are significantly rooted in Singapore to obtain full bank licences and set up digital-only subsidiaries.
Conduct, Culture & Accountability
Culture Audits: Removing the Blindfold
By Stephen Scott | 03/08/2020
To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.
Structural Regulation
Singapore Industry Consultation Proposes to Discontinue SIBOR
By Manesh Samtani | 29/07/2020
Proposed reforms were found to display “noticeable differences in volatility and levels compared to SIBOR”, which will present challenges to industry adoption.
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